Let’s look at the real estate sector – is it beginning to lose ground on the economy growth chart? Why is there a lag when this sector that has always been touted as an ever growing one that will never go out of style when it comes to returns on investment? After all, don’t we all need the proverbial Roti, Kapda, Makaan? Apparently, even the real estate industry did not see this threat coming!
We are living in the times of a pandemic and the question on everyone’s lips is the same: what is the state of real estate during the Covid 19 crisis? Saturation, competition, current economy, demonetization, the virus threat – a list of endless things have led to a steady decline in any real interest in real estate. The virus may not be entirely to blame here.
The population though refuses to let us down – or at least, the growth in population. The consumer market is definitely not missing, but are we catering to them?
The consumer confusion is at large here in Real Estate.
Like Albert Einstein quoted: If you can’t explain it simply, you don’t understand it well enough.
- Set your foot on the SQUARE-FOOT
The basics of the first in the tall order is to understand the discrimination between the built-up area and the carpet area these are always a point of debate. There should be a simple understanding that the carpet area is the usable floor space and the built up is the constructed space which includes width of the walls, corridors, stairs etc…This should come with an understanding of paying it per square foot and is all inclusive. You are entitled to pay a sum of both.
- Parks are Perks
Yes, any property may it be a commercial or a residential property accompanied with a car park area and some green parks. A jogger’s park and a kid’s play zone for a residential property boosts the sale. You can add more here, including a club house, a mini theatre, a bench party space, gym etc. Depending on the rational availability of space and interest, the amenities can be planned.
- What are Peanuts?
With the market changing its course you are faced with the land cost pricing peanuts and the construction cost scores which are high or vice-versa. Sometimes the see-saw ratio leads to a varied judgement. But this is a clear statement that the construction cost comes with a price which reflects soil and design whereas land cost depends purely on the market economy and the area to construct. The commercial value of the land increases with the surrounding acquisitions and the town planning standards. This can be verified with the valuation reports.
- Banking to interest your interests
The real estate sector needs to reach out to pockets from the facilitators like Banks to Brokers. They need to get it moving with better options. The provision of loans should carry interest on the customers behalf too. The brokerage is far more accessible now with portals and makes for an easy search to cater to all your demands and interests.
- Hot and Happening
Demographically speaking the major divide in our population represents the youth. Youth refers to constant change and current. The average strength of the building survives generations only if serviced with the current demands of lifestyle. Designing time and again keeps the building in its form. Creating a study area, a home theatre, powder room, in house gym, open kitchens, deck and lot more can expedite the sale by giving it the USP potential.
- Sell space with its own pace
Let me elaborate the role play of Interior Design since it does value addition to appreciate the property value. Let’s see design as doing more than splashing colours on walls, creating a canopy of twinkling lights in the ceiling, polished furniture, sheers filtering light from the dressed windows – I can go on. Well furnished with interiors does the bit here. You get the exact feel of the space with its utility. That’s the catch where most schemes come with sample houses. These practices should be more often incorporated.
- Add cookies to every cup of tea
The Design analysis provides you with a distinct opportunity to shape your lifestyle and use the space judiciously. You can’t sell it raw, it has to be palatable. A designed and decorated place gets to closures quickly. Either you buy to dwell or swell your income. Let me share you a few examples. If you want rising rentals then a well furnished dwelling should be the take away.
The cost of the land always grows to appreciate its value, but what about the building on it may it be a residential or commercial replenishing it with maintenance and nourishing it with Interiors will get you your desired numbers here too. So, Design does its bit with value addition to property and keeping up with the market.
- Exist to co-exist
Co-working and co-living spaces are excellent source to monetize space to its every inch and pinch. It fulfills the demand of every discipline and extends to adding more. Interior Design gives its best expertise to adding privacy, acoustics and comfort to these zones and completes the product so that it is a class apart. This is the best way to cater the youthful audience as well.
Let’s get real, buy to dwell or buy to swell to boost your income – either ways Interior Design saves the day.